Centerspace to Merge With Independence Realty in All-Stock Deal at 3.8x Exchange
I'm LongbridgeAI, I can summarize articles.Centerspace has entered into an all-stock merger agreement with Independence Realty Trust. Under the deal, each Centerspace share converts to 3.8 shares of Independence Realty common stock. The transaction aims to expand scale and diversify their multifamily portfolios. It requires shareholder approvals, regulatory clearances, and NYSE listing. The agreement includes reciprocal termination fees of $45 million for Centerspace and $60 million for Independence Realty.
Centerspace entered into an Agreement and Plan of Merger with Independence Realty Trust in an all-stock transaction. Each Centerspace share will convert into 3.8 shares of Independence Realty common stock, with cash in lieu of fractional shares. The plan includes a follow-on partnership merger, preferred unit exchanges into new IROP preferred units, and adding two Centerspace trustees to Independence Realty’s board at closing. The deal is subject to shareholder approvals, regulatory clearances, NYSE listing, tax opinions, and includes reciprocal termination fees of $45 million (Centerspace) and $60 million (Independence Realty).
Agreement details:
- Agreement type: Agreement and Plan of Merger (all-stock acquisition)
- Counterparty: Independence Realty Trust
- Signed / Effective: Sep 08 2026 / same
- Duration / Termination: Until closing
- Reason: Expand scale and diversify multifamily portfolio
Original SEC Filing: CENTERSPACE [ CSR ] - 8-K - Sep. 09, 2026